The tribunal noted that Kumar’s obligation to render services on the second day was conditional upon receiving the full payment, which he did not. Furthermore, the NCLT observed that any claim arising from the alleged breach of contract would be considered liquidated damages and not operational debt under the IBC. “However, there is no documentary…
Data breaches and ransomware attacks in the US are increasing companies’ risk of financial losses, in many cases dragging them into bankruptcy or putting them out of business altogether. Data breaches cost companies across the world on average about $4.9 million, and nearly double that amount in the US, according to a 2024 study by…
Company collapses in England and Wales fell last year, according to new official figures, but compulsory liquidations soared to a 10-year high and experts warned of more uncertainty for firms in the coming months. Some 23,872 companies went out of business in 2024, the Insolvency Service said, down 5% on the previous year. Despite the…
Some 23,872 companies went out of business in 2024, the Insolvency Service said, down 5% on the previous year. Despite the drop year on year, the number of insolvencies was far higher than most of the last decade, and remains at levels last seen during the 2008 financial crisis. The figures also revealed that compulsory…
Company collapses in Northern Ireland soared last year, according to new official figures. Some 305 firms went out of business in 2024, according to the Insolvency Service. And that represented a massive 40% increase on the previous year, when 218 firms went under. In December alone there were 23 company insolvencies registered in the north,…
Electric van startup Canoo announced it has filed a voluntary petition for Chapter 7 bankruptcy, which will liquidate company assets and distribute proceeds to… Read the original article here
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Some 23,872 companies went out of business in 2024, the Insolvency Service said, down 5% on the previous year. Despite the drop year on year, the number of insolvencies was far higher than most of the last decade, and remains at levels last seen during the 2008 financial crisis. The figures also revealed that compulsory…
Fall in company collapses last year but experts warn of ongoing ‘headwinds’ MSN Read the original article here
Electric van startup Canoo announced it has filed a voluntary petition for Chapter 7 bankruptcy, which will liquidate company assets and distribute proceeds to… Read the original article here